Specialty Methacrylate Market Poised to Expand at a Robust Pace Over 2021-2031

Specialty Methacrylate: Introduction

• Specialty methacrylate is a salt or ester of methacrylic acid, which is used in the manufacture of certain plastics. It is used as specialty chemical in applications such as coatings, inks, paints, and adhesives. It is also used to enhance compatibility, impact modification, flexibility, and heat resistance capacity as a chemical intermediate. Methacrylate refers to derivatives of methacrylic acid. These derivatives include the parent acid (CH2C (CH3) CO2H), salts (e.g. CH2C (CH3) CO2−Na+), esters (e.g. CH2C (CH3) CO2CH3, or methyl methacrylate), and polymers of these species. Methacrylates easily form polymers, as the double bonds are very reactive.
• Specialty methacrylate is used as a monomer resin in some windscreen repair kits and as bone cement for fixing prosthetic devices in orthopedic surgery

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Key Drivers and Restraints of Global Specialty Methacrylate Market

• Rise in demand for specialty methacrylate in automobile and electronics industries is driving the specialty methacrylate market. Furthermore, expansion of the the building & construction industry is also propelling the demand for specialty methacrylate.
• Availability of cheaper substitutes is hampering the specialty methacrylate market

Specialty Methacrylate: Derivative Segment

• In terms of derivative, the global specialty methacrylate market can be segmented into methyl methacrylate, butyl methacrylate, ethyl methacrylate, and others

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Specialty Methacrylate: Application Segment

• Based on application, the specialty methacrylate market can be categorized into acrylic sheets, molding, paints & coatings, additives, and others
• Molding is expected to remain a prominent segment during the forecast period owing to rising demand for acrylic resins in products such as instrument clusters and taillights for cars

Specialty Methacrylate: End-use Segment

• In terms of end-use, the specialty methacrylate market can be divided into automotive, architecture & construction, electronics, advertisement & communication, and others. Automotive is a dominant segment of the global market owing to significant demand for specialty methacrylate in the automobile sector.

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Covid-19 Impact on Specialty Methacrylate Market

• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
• Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
• Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the specialty methacrylate market.

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Asia Pacific to Dominate Specialty Methacrylate Market

• Asia Pacific is expected to be a prominent region of the market owing to the presence of major players in the region and high demand for specialty methacrylate in signs & displays, architecture, construction, and automotive industries
• The market in the region is likely to expand due to growth in major economies such as China, India, South Korea, and Japan. Asia Pacific is projected to be followed by Europe and North America during the forecast period.

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Key Manufacturers Operating in Global Specialty Methacrylate Market

Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global specialty methacrylate market include:

• Mitsubishi Chemical
• Evonik
• Dow Chemical
• Sumitomo Chemical
• LG Chem
• Arkema

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